4//SEC Filing
INNKEEPERS USA TRUST/FL 4
Accession 0001181431-07-043427
CIK 0000926866operating
Filed
Jul 1, 8:00 PM ET
Accepted
Jul 2, 6:52 PM ET
Size
13.1 KB
Accession
0001181431-07-043427
Insider Transaction Report
Form 4
FISHER JEFFREY H
Chairman of the Board, CEO
Transactions
- Disposition to Issuer
Employee Share Option (right to buy)
2007-06-29−240,000→ 0 totalExercise: $10.25Exp: 2009-05-04→ Common Shares (240,000 underlying) - Disposition to Issuer
Common Units of Limited Partnership
2007-06-29−413,595→ 0 total→ Common Shares (413,595 underlying) - Disposition to Issuer
Common Shares
2007-06-29$17.75/sh−878,950$15,601,363→ 0 total - Disposition to Issuer
Performance Shares
2007-06-29−150,000→ 0 totalExp: 2008-05-30→ Common Shares (150,000 underlying)
Footnotes (8)
- [F1]Pursuant to the Merger Agreement between Innkeepers USA Trust and Grand Prix Holdings LLC, each common share was cancelled and converted into the right to receive $17.75 (the "Merger Consideration").
- [F2]Includes shares owned both directly by the filer and indirectly by filer's wife which are attributable to filer.
- [F3]Shares were granted May 5, 1999 under the Company's shareholder-approved share incentive plan and became exercisable as to one fifth of the shares on each of the first through fifth anniversaries of the grant date. Pursuant to the Merger Agreement, options to acquire shares of common stock were cancelled and converted into the right to receive an amount in cash equal to the excess, if any, of the Merger Consideration over the exercise price per share.
- [F4]Pursuant to the Merger Agreement, filer elected to convert units into the right to receive the Merger Consideration.
- [F5]Filer disclaims beneficial ownership of 37,182 units.
- [F6]Prior to the Merger Agreement, unit holders had the right to elect at any time to redeem for one Common Share of the Registrant (or, in the discretion of the Registrant, an equivalent value in cash).
- [F7]Prior to Merger, restricted shares were to issue pursuant to the performance shares on a 1 for 1 basis if the Registrant attained a compounded total return to shareholdrs ("TRS") of 10% or greater for the period June 1, 2005- May 31, 2008. TRS was to be based upon the appreciation in the Registrant's share price and distributions made to shareholders.
- [F8]Pursuant to the Merger Agreement, performance shares vested and were converted into the right to receive the Merger Consideration.
Documents
Issuer
INNKEEPERS USA TRUST/FL
CIK 0000926866
Entity typeoperating
IncorporatedMD
Related Parties
1- filerCIK 0000926866
Filing Metadata
- Form type
- 4
- Filed
- Jul 1, 8:00 PM ET
- Accepted
- Jul 2, 6:52 PM ET
- Size
- 13.1 KB